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Diamir Bhasha, Mohmand dams’ Fund receives Rs10.36b: SBP

Diamir Bhasha, Mohmand dams’ Fund receives Rs10.36b: SBP

KARACHI: The Prime Minister and Chief Justice of Pakistan Diamer Bhasha and Mohmand Dam Fund received Rs10.36 billion so far.

According to report issued by the State Bank of Pakistan (SBP), the countrywide contribution to the fund stood at Rs8.826 billion while the remaining Rs1.53 billion were contributed by the expatriate Pakistanis.

Pakistanis living in USA remained the top among the foreign countries who donated Rs545.314 million followed by UK from where a sum of Rs370.74 million had been transferred to the dams fund so far.

Similarly, the fund also received Rs144.38 million through the SMS service of various cellular companies in Pakistan.

According to details issued by the SBP, the top ten institutional donors include Employees of government of Punjab with contribution of Rs1.09 billion, Pak Army Rs582.071 million, HQ CWO SPD Rs201.093 million, Bahria Town, Rs110.12 million and PAF with Rs100.28 million.

Meanwhile, the SBP in a circular directed the banks not to charge any service fee including interchange fee, merchant discount rate, transaction fee etc on the donations/payments made to the dam fund through payment cards (debit, credit or prepaid cards). The Chief Justice of Supreme Court of Pakistan established a Supreme Court of Pakistan Diamer Bhasha and Mohmand Dams Fund on July 10, 2018 to raise funds for the construction of Diamer Bhasha and Mohmand Dams.

The Court supervises the Fund and its Registrar operates its account directly. Later, the Prime Minister of Pakistan announced to join efforts with the Chief Justice of Pakistan for this cause. Accordingly, the fund was renamed as “Prime Minister and Chief Justice of Pakistan Fund for Diamer Bhasha and Mohmand Dam.